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“Begin with an end in mind” – Stephen Covey “7 Habits of Highly Effective People”
No truer words have ever been spoken. A simple phrase that makes everyone’s life easier and more productive. Our data science team tries to live by that simple phrase, but it’s difficult because we want to jump right into “solution mode” …we have seen so many similar problems, that we already know and understand how to solve that problem. And that’s an…Continue
Money on the Table..MOTT. When I was the Vice President of Advertiser Analytics at Yahoo, this became a key focus guiding the analytics that we were delivering to advertisers to help them optimize their spend across the Yahoo ad network. Advertisers had significant untapped advertising and marketing spend into which we were not tapping because we could not deliver audience, content and campaign insights to help them spend that money with us. And the MOTT was…Continue
I am a believer that the pathway to innovation must end with putting a product or service into the market that provides economic value to customers, economics the branch of knowledge concerned with the production, consumption, and transfer of wealth. Innovation is about economics and economics is about value creation. It’s about the 4M’s…Make Me More Money!
Products or services that never reach the market may have been great ideas, but you can’t pay the mortgage or buy your Venti Chai…Continue
The Economic Value Curve is a measure of the relationship between a dependent variable and independent variables to achieve a particular outcome such as retain customers, increase operational uptime, or optimize inventory. The Economic Value Curve measures the impact that increasing or decreasing one of the independent variables has on the dependent variable. In Figure 1, for example, if we want to improve the dependent variable “Uptime %” then we need to spend more on the independent…Continue